Insert your own punch line here. The New York Times says they were chatting at the Sun Valley conference, but we don't know what they said.
The former chief is is reportedly banking on his Internet experience at Yahoo to bolster IMG's Internet operations and media offerings.
The former CEO, who stepped down from that role last summer, severs his last ties to the company.
Terry Semel has been replaced as CEO by Jerry Yang. What led to this and what is next for Yahoo?
There's no small irony in Terry Semel's suggestion last week that Jerry Yang "think hard about being our CTO."
Terry Semel steps down one week after shareholders blast him over search company's financial performance.
After six years, Terry Semel is stepping aside as Yahoo's CEO and Jerry Yang is taking the reins.
Company co-founder Jerry Yang becomes chief executive, but how long will he stay in that post?
The company names co-founder Jerry Yang to be CEO, as Terry Semel shifts to a role as nonexecutive chairman.
A letter to Yahoo's exiting CEO says he was key to company's success, but that there is "no better person in the world to run Yahoo now" than co-founder Jerry Yang.